EMCOR Group Inc Stock Forecast
EMCOR Group Inc stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The EMCOR Group Inc stock price gained 0.117% on the last trading day (Wednesday, 27th Mar 2024), rising from $351.18 to $351.59. During the last trading day the stock fluctuated 1.30% from a day low at $350.15 to a day high of $354.72. The price has risen in 8 of the last 10 days and is up by 8.56% over the past 2 weeks. Volume fell on the last day by -57 thousand shares and in total, 253 thousand shares were bought and sold for approximately $88.93 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 77.51% during the next 3 months and, with a 90% probability hold a price between $582.45 and $642.83 at the end of this 3-month period.
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EME Signals & Forecast
The EMCOR Group Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $344.65 and $299.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 11.12%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, January 08, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, January 08, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for EMCOR Group Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $305.45 and $277.47. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, EMCOR Group Inc finds support just below today's level at $305.45. If this is broken, then the next support from accumulated volume will be at $277.47 and $274.88.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.57 between high and low, or 1.30%. For the last week, the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: $340.41 (-3.18%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (EME) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect EMCOR Group Inc to open at $352.15, and during the day (based on 14 day Average True Range), to move between $344.77 and $358.41, which gives a possible trading interval of +/-$6.82 (+/-1.94%) up or down from last closing price. If EMCOR Group Inc takes out the full calculated possible swing range there will be an estimated 3.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $305.45, some $46.14 (13.12%) from the current price of $351.59, our system finds the risk reward attractive.
Is EMCOR Group Inc stock A Buy?
EMCOR Group Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.308 Strong Buy Candidate Upgraded
Predicted Opening Price for EMCOR Group Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$352.15 ( 0.160%) | $351.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EME
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 356.72 | 1.46 % | |
R2 | 354.97 | 0.96 % | ||
R1 | 353.90 | 0.656 % | ||
Current price: | 351.59 | |||
Support | S1 | 350.41 | -0.336 % | |
S2 | 349.33 | -0.643 % | ||
S3 | 347.59 | -1.14 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 351.59 | |||
Support | S1 | 305.45 | -13.12% | |
S2 | 277.47 | -21.08% | ||
S3 | 274.88 | -21.82% |
EME Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 12, 2024 | Jan 12, 2024 | Jan 31, 2024 | $0.180 | 0.0789% |
2 | Oct 05, 2023 | Oct 13, 2023 | Oct 30, 2023 | $0.180 | 0.0878% |
3 | Jul 07, 2023 | Jul 19, 2023 | Jul 31, 2023 | $0.180 | 0.0837% |
4 | Apr 06, 2023 | Apr 14, 2023 | Apr 28, 2023 | $0.180 | 0.105% |
5 | Jan 06, 2023 | Jan 13, 2023 | Jan 31, 2023 | $0.150 | 0.101% |
FAQ
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